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...Last year, HSBC worked on a $3bn raise for Greensaif Pipelines Bidco, which has a 49 per cent stake in Saudi Aramco’s gas pipelines, and was among the banks that arranged a $3.3bn revolving credit facility...
...Deutsche Bank’s chief executive has said that Europe should consider lifting a cap on banker bonuses, becoming the latest senior banker to call on Brussels to follow the UK’s lead....
...The challenge of turning this motley crew into a usable acronym meant that O’Neill simply called them the N-11....
...HSBC did not immediately respond to a request for comment....
...A $3bn charge on HSBC’s stake in China’s Bank of Communications, in which it has a 19 per cent holding, is significantly larger than the charge peer Standard Chartered has taken on its China bank stake,...
...Largely what happened was that HSBC had to take this huge kind of $3bn impairment on the value of a stake that they own in a Chinese state-backed bank called Bank of Communications....
...of a bank failing....
...Shares in HSBC fell the most since 2020 after the bank reported an 80 per cent drop in quarterly profit and a $3bn charge on the value of its stake in a Chinese bank....
...The payouts to shareholders reflected “four years of hard work and the strength of our balance sheet in a higher interest rate environment”, said the bank’s chief executive Noel Quinn....
...HSBC made a push into the UK fintech sector in 2022 with a $35mn investment in Monese, a UK-based start-up that offers current accounts to people underserved by mainstream banks....
...The fintech said on Tuesday that Bhatia, who previously led HSBC’s digital bank in the UK and Europe, would take over from interim chief executive John Mountain in early summer, subject to regulatory approval...
...Last March, the Bank of England worked round the clock to enable HSBC to buy Silicon Valley Bank’s UK arm almost immediately after its US parent went bust....
...It’s definitely growing, as Bank of America points out in a recent note....
...An investigation by TBIJ’s Nimra Shahid and Robert Soutar found that Santander and HSBC worked on a transaction by Peru’s national oil company that casts a harsh light on the banks’ policies around protecting...
...The Fed sets rigorous capital and liquidity requirements, along with regular stress tests, to confirm banks’ ability to withstand major adverse shocks....
...Ottawa on Thursday approved the $10.2bn sale of HSBC’s assets to Royal Bank of Canada, more than a year after the UK-based, Asia-focused lender announced its exit from the market....
...This is something the central bank could conceivably act on in March....
...The fintech group said on Tuesday that Bhatia, who previously led the digital bank for HSBC’s retail banking and wealth management business in the UK and Europe, would take over from interim chief executive...
...“They’re a big bureaucratic bank,” the company’s CFO said of HSBC. “It’s hard for them to reinvent themselves.”...
...He added the strength of the UK’s prudential regulations had allowed HSBC to buy Silicon Valley Bank’s UK operations swiftly when the parent company ran into trouble in March....
...The position, which would equate to 0.57 per cent of HSBC’s market capitalisation, one of the biggest short positions on a big four UK bank on record, was taken out on Tuesday, according to data reported...
...Simon Cooper — who has led the trading, capital markets and corporate banking unit from Singapore since joining from HSBC in 2016 — “will leave the group to pursue other interests”, the bank said on Tuesday...
...That should mean a model with plenty in reserve to fend off any banks aiming to grab customers....
...The latest cuts follow a drop in market swap rates in December, after investors predicted a quickening pace of falls in inflation and Bank of England interest rates over the coming year....
...“We have growing confidence,” noted HSBC, quoting Fed chair Jay Powell’s remarks at a January meeting....
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